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opt.out
Dud?


Joined: 19 Apr 2009
Posts: 2

Tucker Hill in Mckinney, TX
PostPosted: Sun Apr 19, 2009 8:31 pm Reply with quoteBack to top

Will Darling, Southern Land, Tim Jackson, and Flagstone rebound at Tucker Hill in Mckinney across Hwy 380 from Stonebridge? Observation: This community has/had a great concept! The Parade of Homes 2008 was there in Mckinney, TX. The community is not growing and Darling is reportedly not moving forward in the community. With almost 40% of the land, how can this community survive? They'll probably sell to a lesser quality builder,which sucks for all the folk who bought before the economy turned. Southern Land, a new name in Texas is not moving properties either. Realtors report the construction financing was pulled some time ago. all there either. They have had to let go every employee since the inception of the community - NOT GOOD!

Houses have dropped 150-270K in price! Insiders report they will not build a community resident center, which they promised to homebuyers. Instead they are trying to get into Stonebridge. That stinks! I really like that community, but I am scared that it might turn into a Verona Estates (scary)!
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Nelson
Dyn-o-mite!


Joined: 07 Nov 2008
Posts: 351
Location: Texas

Re: Tucker Hill in Mckinney, TX
PostPosted: Mon Apr 20, 2009 2:10 am Reply with quoteBack to top

Tucker Hill makes a great tourist attraction, but how many people are willing to pay a huge premium to live in an architectural and land planning experiment.

Seaside in Florida works because it is on the beach and was't priced at a huge premium when it opened. North of 380 in McKinney is not Florida on the beach.

Darling has built thier own Tucker Hill replica on Eldorado in Frisco and it looks like it is starting off slowly as well.

Both are beautiful neighborhoods worth visiting.

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mikestrong
Cherry Bomb


Joined: 07 Oct 2008
Posts: 118

Re: Tucker Hill in Mckinney, TX
PostPosted: Tue Apr 21, 2009 9:20 pm Reply with quoteBack to top

I live 4 miles from that commuinty, but with pricing and how far out it is, I never thought it would work in a good market much less this one. The people that live there will be stuck for a good while. With that said, it is quite beautiful.
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jamf92
Flash in the pan


Joined: 06 Jan 2009
Posts: 44

Re: Tucker Hill in Mckinney, TX
PostPosted: Wed Apr 22, 2009 1:37 pm Reply with quoteBack to top

Tucker Hill is not positioned for rebound in the current economic climate. the minimum home in that division is $350K (and they look like a childs playhouse next to the primary homes) and the big one's reach into the $1 Million+ range. Back in the good days when credit was plentiful this division would have likely been a nice success but not now.

Could it rebound in a few years? Possibly but with signs pointing to credit requirements increasing that will further depress the number of persons that can (or are willing) to stretch their income to buy homes of this size and cost. But I agree that the homes are beautiful. Darling has some great looks out there but even if I had an extra Million to spend now I would not drop it there (much less anywhere else) at least for the distant future.

If you got a Million+ to spend on a home why would you move into North McKinney when you can get some great deals in much more prominent areas of Dallas (Highland Park, Preston Hollow, etc.). Ultimately would be a safer investment due to the history and longevity of that area vs. a new and unproven area in a suburb.
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cicero
Dud?


Joined: 04 Mar 2009
Posts: 21

Re: Tucker Hill in Mckinney, TX
PostPosted: Fri Apr 24, 2009 10:05 pm Reply with quoteBack to top

Okay, I'm a total amateur, but my wife and I have visited Tucker Hill several times in the past 6-9 months, and it looks like to me that they're about the only neighborhood up north selling anything! In fact, homes are selling up there at (it seems to me) a pretty good clip. Yes, it's high and close to a noisy 380, but each time we come in there are more homes sold.

What am I missing or not privy too? Looks healthy to me. Looks can be deceiving though, I guess.
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jamf92
Flash in the pan


Joined: 06 Jan 2009
Posts: 44

Re: Tucker Hill in Mckinney, TX
PostPosted: Tue Apr 28, 2009 8:59 pm Reply with quoteBack to top

Not sure what houses you are seeing going up or selling but it seems pretty stagnant to me. The homes in their $350 - $500K range (approx)(I think there are 3-4 of them) have been the same one's there for months. They might be finishing out existing contacts but from what I understand from the builders is little to no new construction is occuring. - J
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cicero
Dud?


Joined: 04 Mar 2009
Posts: 21

Re: Tucker Hill in Mckinney, TX
PostPosted: Sat May 02, 2009 11:58 pm Reply with quoteBack to top

Didn't think of that. Maybe they've just had a lot of previous contracts finished up with people moving in over the past few months. That or my expectations of what a good selling rate are lower than those of you in the business. That's possible.
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PetraJ
Dud?


Joined: 05 May 2009
Posts: 3

Re: Tucker Hill in Mckinney, TX
PostPosted: Tue May 05, 2009 5:47 pm Reply with quoteBack to top

Since there seem to be several rumors about Tucker Hill, I wanted to take the opportunity to post some absolute truths:

First, the community does continue to grow. There are three new inventory homes (including some available for less than $350,000), and several build jobs underway.

Darling Homes does not have any intention of leaving the neighborhood. Their community sales manager recently resigned to pursue other opportunities, and Tucker Hill is now back to centralized sales. Meaning, the developer represents all four builders from a sales standpoint - making it easier for the buyer. Darling has recently released 10 new homes available as build jobs in Tucker Hill.

Construction financing has not been pulled. Granted, things have slowed due to the economy, but Southern Land Company has been smart about slowing down rather than throwing lesser product on the ground. They are committed to remaining true to the vision of the Traditional Neighborhood Development.

The homebuilding division of Southern Land Company has continued to move inventory homes. There are more to go, but they continue to have sales and closings each month. March and April in particular have proven to be the best months thus far.

Like many developers, Southern Land Company has experienced layoffs, but has not by any means laid off every employee. The current VP of construction has been at Tucker Hill since the inception. The VP of development has been with SLC for several years, and at Tucker Hill since July. The marketing director has been at Tucker Hill for over a year and a half. The community sales manager has been there for a year. The horticulture staff has been on board for over a year.

Southern Land Company has completed the excavation work of the Resident's Club, but has slowed down production due to the economy. They are committed to completing the club, but have adjusted the timeframe. In the meantime, they have secured social memberships to Stonebridge Ranch Country Club for the Tucker Hill residents, as they feel it's important to have access to pool/workout facilities during the short delay of the Tucker Hill facility.

Like most communities, prices have dropped on the inventory homes at Tucker Hill. However, the builders are committed to holding the value of the homes and expect prices to rise again in the very near future. If anything, it's a great opportunity for people to get into Tucker Hill at prices that won't likely be seen again.

The prices and location of Tucker Hill aren't for everyone. But the combination of architecture, horticulture and that great old neighborhood feel definitely makes it worthwhile for many. The numerous residents living there swear by it, and wouldn't live anywhere else.

Looks to me like Tucker Hill will continue to grow into a community that will span generations (and will be known as a 'great old neighborhood' itself some day!).
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jamf92
Flash in the pan


Joined: 06 Jan 2009
Posts: 44

Re: Tucker Hill in Mckinney, TX
PostPosted: Tue May 05, 2009 6:23 pm Reply with quoteBack to top

PetraJ,

Thanks for the input. Granted "rumors" is all most of us have to go on in these groups but it is nice when somebody who has more factual information pipes in.

I do hope Tucker Hill does well as I think it is one of the best communities in the North Dallas area. The homes are spectacular all the way from the $350K range up to the $1 Mil + one's.

Just wish I was in a position to jump on one of those sub $350K one's Sad
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opt.out
Dud?


Joined: 19 Apr 2009
Posts: 2

Tucker Hill
PostPosted: Thu May 28, 2009 5:04 am Reply with quoteBack to top

PetraJ:

So Darling is still contracting and building new projects, these are not old contracts signed last year?

Homes purchased before the economy turned will appraise for sales price or more 3 years from contracting, this is/was a promise, correct?

How many home owners are employees of the builders in the neighborhood? Can we really count these in sales?

You named a few employees still there, here are all the people I recall meeting that are not there: Lori (there was a lady before Lori), Susan, Tom, Eric, Kacy, Mary, Marsha, Chuck, Lindsay...

You're confirming that the Development did not lose its construction financing/loan last summer? Joe????

How many homes were actually sold since March, don't count the 2 or more that came back on the books after the sale?
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